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Eric Weissmann Acquires Miami Beach Multifamily For $2.6M From Seller Andrea Diotallevi - West Avenue Realty

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SOLD
$2,617,500

Florida

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MultiFamily11,095 SF
Sold 02/11/2022
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Property Image
SOLD

Eric Weissmann Acquires Miami Beach Multifamily For $2.6M From Seller Andrea Diotallevi - West Avenue Realty

1966 Biarritz Drive, Miami Beach, Florida 33141, United States

See Similar Deals
MultiFamily11,095 SF
Sold 02/11/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$235
Total Square Footage:11,095 SF
Transaction Type:Sale

The multifamily property located at 1966 Biarritz Drive in Miami Beach has been sold in a recent transaction. The property, consisting of 5 units, spans across a total area of 7,595 square feet. The sale price for this property was recorded at $2,617,500, resulting in a price per unit of $523,500. The price per square foot for this transaction was $345.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,617,500
  • Units: 5
  • Price per Unit: $523,500
  • Square Footage: 7,595 sqft
  • Price per Square Foot: $345

Eric Weissmann is the buyer in this transaction, while Andrea Diotallevi is the seller. The deal was facilitated by Jordan Millman from West Avenue Realty, serving as the broker in the transaction.

Players

4 deals$8.3M volume
BROKER

Details

SOLD
IMAGE: Jordan Millman DATE: 02/11/2022 ADDRESS: 1966 Biarritz Drive MARKET: Miami Beach ASSET TYPE: Multifamily BUYER: Eric Weissmann SELLER: Andrea Diotallevi BROKER: Jordan Millman (@MiamiLuxuryCondo) - West Avenue Realty ASKING PRICE: $2,650,000 SALE PRICE: $2,617,500 UNITS: 5 ~ PPU: $523,500 SF: 7,595 ~ PPSF: $345

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$139,600.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,299.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,408.29
Annual Debt Service$148,899.42